Zaggle Prepaid Ocean Services shares jumped more than 6% in morning trade after the Board approved the acquisition of a 98.32% stake in Span Across IT Solutions Private Limited.
The acquisition involves the purchase of 10,66,314 equity shares at a price of ₹300.80 per share (including a premium of ₹290.80 per share) for a total consideration of roughly ₹32.06 crore. This transaction was concluded during a Board meeting on September 25, 2024.
With the acquisition, Span Across IT Solutions will become a subsidiary of Zaggle Prepaid, expanding the company’s presence into new sectors, especially employee-related IT services. Span Across operates in the information technology services sector, including online income tax return preparation and software development.
As of 9:55 am, Zaggle Prepaid shares were trading 6.06% higher at Rs 458.00 on the NSE.
